KALA BIO, Inc. (NASDAQ:KALA) Short Interest Update

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 551,064 shares, a decline of 40.6% from the December 15th total of 928,449 shares. Currently, 5.7% of the company’s shares are sold short. Based on an average daily volume of 1,744,159 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 1,744,159 shares, the days-to-cover ratio is presently 0.3 days. Currently, 5.7% of the company’s shares are sold short.

Insider Buying and Selling

In related news, Director Mark T. Iwicki sold 154,894 shares of KALA BIO stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $0.81, for a total transaction of $125,464.14. Following the completion of the transaction, the director directly owned 103,540 shares of the company’s stock, valued at approximately $83,867.40. The trade was a 59.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd Bazemore sold 47,768 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $0.83, for a total value of $39,647.44. Following the completion of the sale, the director owned 35,932 shares in the company, valued at approximately $29,823.56. The trade was a 57.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 303,413 shares of company stock worth $248,725. 2.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in KALA BIO in the 2nd quarter worth $62,000. Geode Capital Management LLC grew its position in KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after buying an additional 1,534 shares during the period. Woodline Partners LP acquired a new position in KALA BIO in the 1st quarter worth about $1,483,000. Finally, AIGH Capital Management LLC lifted its position in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after buying an additional 103,650 shares in the last quarter. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Stock Up 12.4%

Shares of NASDAQ KALA traded up $0.07 during mid-day trading on Friday, reaching $0.68. 4,463,126 shares of the company were exchanged, compared to its average volume of 2,121,241. KALA BIO has a 1 year low of $0.51 and a 1 year high of $20.60. The firm has a 50-day moving average of $0.70 and a 200 day moving average of $4.99. The stock has a market cap of $6.64 million, a price-to-earnings ratio of -0.11 and a beta of -2.43.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, November 19th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). On average, equities analysts forecast that KALA BIO will post -10.84 earnings per share for the current year.

Wall Street Analyst Weigh In

KALA has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, December 29th. HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. Mizuho set a $1.50 price target on shares of KALA BIO in a research note on Tuesday, September 30th. LADENBURG THALM/SH SH lowered KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday, September 29th. Finally, Lifesci Capital downgraded KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, KALA BIO presently has an average rating of “Hold” and a consensus price target of $20.38.

KALA BIO Company Profile

KALA Bio (NASDAQ: KALA) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for ocular diseases. The company’s proprietary surface charge–based nanoparticle delivery platform is designed to enhance penetration and retention of therapeutic agents on the ocular surface. This technology is the basis for its lead product, Eysuvis (KPI-121 1.0%), an FDA-approved topical corticosteroid for short-term relief of ocular itching associated with allergic conjunctivitis.

Beyond its approved therapy, KALA Bio is advancing a pipeline of investigational drug candidates targeting inflammatory and degenerative eye conditions.